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Big Bear Real Estate Monday Market Update For 2/9/2009

Below is your weekly update for the Big Bear real estate market as of 2/9/2009 (a very snowy day I might add).

Property Type Listings for Sale Change from Last Week Pending Sales Change from Last Week Sales Year to Date Change from Last Week
RESIDENTIAL 904 -2 129 +3 57 +17
VACANT LAND 344 +10 11 -2 1 +1
CONDOS 47 -1 6 0 1 0
GOVERNMENT LEASE 12 +1 0 0 0 0
TOTAL 1370 +10 150 +2 59 +18

A few notes about the market

Homes sales are picking up and the +17 for week is good proof.

There were 24 residential properties that went into escrow the past week.  This is the second strong week for pending sales. 17 (70%) of these sales were either bank owned or short sales.  So, only 7 (30%) were organic sales.  This is further proof that distressed properties are the market right now in Big Bear.

While the prices may be dropping, the number of sales is increasing so there is a silver lining.

Residential properties continue to dominate what is selling, making up 129 (86%) of the 150 total properties that are in escrow and all but 2 of the closed sales so far this year.

See last week’s Big Bear real estate market numbers.

Be sure to check back here every Monday for your Big Bear Market Update or sign up to get this emailed to you every week.

* Information updated weekly, courtesy of the Big Bear MLS. This update includes MLS data from areas including Big Bear Lake, Big Bear City, Moonridge, Fox Farm, Sugarloaf, Erwin Lake, Fawnskin & Baldwin Lake. It does not include data from areas in the Big Bear MLS that are located outside of the Big Bear area or data on properties in Big Bear that are listed in other MLS systems.

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